/biz/ - Business & Finance

>>16560351

>>16560365
Rolling

it's under the radar

same situation as monero

It was never alive

>>16560351
I don't really understand why it's performing so poorly to be honest. It's fundamentally better then the bazillionth erc20 copy paste token.
Had it been released in Q3 or Q4 of 2017 I think it would have mooned really really hard.
Also, why is an unnecessary fork like Bitcoin Gold still sitting at $5 while this is below $0.10?

>>16560709
Because it’s premined and has zero demand or use cases? It’s not a store of value no matter how much you want to think it is. Zero applications

>>16560716
What the hell, it wasn't premined, does this have to be discussed in every thread?
I just think the market is a bit irrational about this. A mined token on the ethereum network with the same economic properties as bitcoin and the ability to interact with any smart contract just seems way more interesting than any bitcoin fork like the mentioned Bitcoin Gold.

Token serves no purpose

>>16560749
Bitcoin was premined too how do you think genesis block was created . Just because it mimics bitcoin in every way doesn’t mean it has the same value. That’s why bitcoin is special

>>16560709
>>16560749
>I don't really understand why it's performing so poorly to be honest.
If you are willing to learn, I would be happy to explain to the best of my ability.
>A mined token on the ethereum network with the same economic properties as bitcoin
For a start, this important assumption of yours is incorrect.

>>16560779
Genesis block isn't spendable, retard.

>>16560798
You don’t spend blocks einsteinium

>>16560814
The Genesis block reward, jfc.

STFU and buy. Stop trying to explain 0xbtc to these retards. Cumrades at biz are too obsessed with a fat Russian to understand this.

>>16560351
not even close, read the threads that already existed or ask the discord "trannies" for more info. You won't get much here btw

>>16560709
Right now hashrate is high but we are still in the first reward era. The hardware those larger miners are using is not cheap, so we have inflation- this also means people can buy cheaply and distribution becomes (even more) widespread. 0xBTC's tokenomics of course won't be identical to BTC's, too many different variables, but old charts of granddaddy bitcoin can provide context.

>>16560351
Wait for inflation to fall to around 5% watch whales buy up remaining supply and not sell for less than 5$. Neck yourself for not listening.

>>16560675
this

>>16560814
Stop being a pedantic faggot you know what he means

>>16562070
>he thinks whales gonna buy it
haha

>>16562684
The price is so low one could be a whale.

>check'em

>>16560365
Roll

>>16560351
nope. but if you're impatient, sell.

why's it being wash-traded so much?

>>16563795
dunno, it's something mercatox seems to do for its own purposes.

>>16560351
wtf does this even do? I've read the website like 10 fucking times and I still don't get it.

>>16560798

It's just a header to build consecutive blocks on top of, that said it does have a private key

>>16560351
who the fuck actually bought this meme token, and why?

>>16564922
from the web site:
>0xBTC is a faithful implementation of Bitcoin as a trustless, immutable Ethereum smart contract.
that's a good description. the contract issues mining challenges equivalent to the ones in bitcoin. miners solve the challenges, and the contract emits 0xbtc in exchange for valid solutions. the mining parameters are just like bitcoin, but it's an immutable contract running the show. it's an erc20 so it's tradeable trustlessly on dexes and settles in around 15s.

>>16560351
We are early. Accumulate

>>16565266
yeah but what does it DO? perhaps a better question is: who is likley to adopt and utilize it and for what purpose?

>>16560351
DOA, yeah

>>16565294
>>16565266
also, inb4 "it could be used for example to do X" without actually showing someone who is invested in implementing it

>>16565294
it's trustworthy money that transfers quickly and is trustlessly programmable. its value can't be stolen via inflation by any vip because you can only get it by spending energy. forgive me if i don't list off everyone who might find that useful.

>>16565317
implementing what? it's finished, it works. people are mining it at over 5 TH/s atm. https://0xbtc.info/api/stats.json

Why would I buy this shit instead of bitcoin? Makes no sense to me, and I’m not trying to FUD either.

>>16565341
I mean actually using it to, 'transfer money' as you say.

>>16565346
how long does it take to transfer bitcoin? erc20s settle in ethereum block time, 15s.
can you transfer btc to a contract and be sure of recovering it, or be sure that the contract will give you a certain amount of something in return, all without trusting any human or organization? you can with erc20s.
>>16565350
adoption is definitely low right now, same as every other crypto. there's no marketing team to hype it. i think we just have to wait for enough fake crypto projects to die before people understand better what makes a project strong.

>>16565382
>adoption is definitely low right now, same as every other crypto. there's no marketing team to hype it. i think we just have to wait for enough fake crypto projects to die before people understand better what makes a project strong.

Name 3 examples of 'money transfer' using this token currently in operation. It's a simple question.

>>16565398
any two friends can transfer any erc20 between each other in a few seconds with near zero technical knowledge via any phone wallet like trust wallet.
it can also be integrated with webshops pretty easily by programmers. there are working free open source implementations like 0xbtcpay.

>>16565429
Name 3 such people or 'friends' who are currently doing it, not hypotheticals, not "could" "can" "possible"
Name 3 who are currently regularly doing it.

>>16565436
i'll explain stuff about 0xbitcoin if you like, but i'm not going to try to prove to you that people are using ethereum and erc20s if you don't believe it.

>>16565452
I don't care about other tokens, I want to know about this one and you're doing a terrible job of persuading me

>>16565457
i don't care about persuading you. if you have a question, please go ahead and ask.

>>16565476
Who is currently and regularly using 0xbtc to transfer money?

>>16565494
how would i know? any transfer could be. but in fairness, it's probably not many people. there are like 1200 crypto projects and this one is obscure atm.

>>16565294
This is literally like asking what does bitcoin do. If people find it valuable they will buy it, trade it, pay with it or whatever.

>>16565499
>that hair
lost

>>16565516
there are like 1200 crypto projects and this one is obscure atm
Then why should I, or anyone, pick this one over the other 1199?
>>16565529
there already is a bitcoin though. Not only is there a bitcoin, ever since the days of buying pizzas with bitcoin it has been used as a medium of exchange, from what I've gathered in this thread the same can't be said for this token.

>>16565551
>Then why should I, or anyone, pick this one over the other 1199?
i can't say what other people should do. but if people like bitcoin because it's energy backed, but like ethereum for trustless trading and fast settlement, they will probably like 0xbitcoin.

a useful image to know how 0xbitcoin fits in with bitcoin and what many people see to be its main competitor, wbtc.

>>16565575
>but if people like bitcoin because it's energy backed ... they will probably like 0xbitcoin.
No, because mining on 0xbtc does not secure the network. 0xbtc hashrate could drop to 0 and it would still be just as secure because it's just an ERC20 on ETH, so it is not backed by energy. Without securing the network your fancy bitcoin "implementation" is just a glorified minting mechanism.

>>16565628
0xbtc hashrate could drop to 0 and it still works perfectly, how fucking based is that?

>>16565628
you have to transform electricity to heat to get the contract to emit 0xbtc. that's what being energy backed means. we regard 0xbtc as less fragile than 0xbitcoin exactly *because* nobody has to keep mining it. anyone can verify there's no other way to create it.

>>16565628
... 0xbtc as less fragile than bitcoin*

>>16565247
>>16565294
>>16565317
>>16565350
>>16565398
>>16565436
>>16565457
>>16565494

0xShitcoin does nothing. Imagine a generic ERC20 token but then someone adds a useless mining feature to make it inferior to every other token out there. Now it is just like every other P&D token but you need to waste a lot of electricity in order to mine it. Nobody ever adopted it for anything. This was done supposedly to create fairness but the devs were mining it at near zero difficulty before anybody knew about it and thus gained a huge stack for themselves (They likely own 40 to 80% of the total supply and spread it acros 1000 wallets to hide the scam.). After that 3 mining cartels took over. Should even one of them abandon this shitcoin (due to the falling price) then there would be a single mining cartel with well over 51% control ot 0xBTC.

Long ago when this fraud was still traded around a dollar it already became impossible to buy anything with it. If someone had bought or sold one iPhone worth of these scamtokens then this would have caused the price to move up or down by 20%. Now it has become completely useless. The reported numbers state that it has more volume than its entire market cap. The volume is completly fake. Right now you cant even sell your coins even it was just a small transaction.

These threads are all made by one single pajeet and it is impossible to argue with him. 0xBTC is about to die.

>>16565725
all me btw

>>16565725
How do you know so much about something you keep useless? Smells like accumulating here..

>>16565725
oh shit you've unleashed the kraken now anon

>>16565725
>there would be a single mining cartel with well over 51% control ot 0xBTC
just that alone shows you don't understand how it works. it's already been stated in this very thread that the miners could all stop and it would have no effect.
here's what you said that's true: adoption is low, volume is low, mercatox does crazy wash trading and reports crazy numbers.
i think everything else you said was wrong.

>>16560365
rolling for prajeesh

>>16560351
Its name is 0xBitcoin, it was always dead

>>16560365
Rollin'

I still would like to know: those who bought it, especially those still holding it, why?

>>16565889
speaking for myself, because it's a good contender for being solid, trustworthy, daily-use digital money. i like bitcoin pow, i think ethereum is the best smart contract stuff. there was no ico, there's no company to put pressure on. the contract just just out there for as long as ethereum is a thing.

>>16565928
Fair enough, but why do you think it'll increase in marketcap though?

>>16563795
Because mercatox are miners themselves

>>16565948
well, i think for the past few years we've been in a slow and painful process of learning about crypto fundamentals. certain individuals like aantonop have crazy levels of knowledge and ability to discern real strengths and weaknesses of various offerings, but most people are still being taken in by marketing. as time goes on, i think people will appreciate it more and and more if a project had organic beginnings, if they are simple and easily verifiable as trustworthy, etc. every time a project exit scams, i think some people learn the hard way that they prefer projects where that can't happen. same with the failures of centralized exchanges -- every failure is teaching people why dexes are better. when people start filtering the projects by meaningful characteristics, i think 0xbitcoin is going to come to their attention more and more often.

>rank 1000+
>300k market cap
>600k daily volume
>-98% from the top

yeah right

if you hold this you're actually retarded
I was shitting on it since inception
the whole point of POW is security, 0xBTC delegates security to ethereum, meaning its POW is literally useless. The whole project, while neat from a tech perspective, was doomed to fail.

>>16565983
let me help you. if a web site reports weird statistics about a project, that's not a real criticism of the project. you may be surprised to learn this, but 0xbitcoin people don't control what mercatox reports. what would even be the motive of making up stats that obviously don't make sense?
>its POW is literally useless
no, it does two really cool things. it allows people to "buy" it without any controls, in exchange for electricity. it also prevents people from stealing its value via inflation (except the expected amount according to the normal bitcoin reward eras)

People had similar arguments for bitcoin forks back in the day and all these shitcoins are dead now. 0xBTC is no different. POW + ERC20 doesn't mean it will give it value

>>16565983
>the whole point of POW is security
Is that a must? If someone develops a pow that is more secure without it securing itself with its own pow algo is it a bad thing? 0xbtc can't be 51% attacked

>>16565999
please at least take a glance at the site. 0xbitcoin is not a bitcoin fork.
>It is not a fork. It combines the Bitcoin properties of block rewards, proof-of-work issuance, and a 21 million coin cap with the Ethereum properties of speed, DApps, and DEX trading.

>>16566002
>0xbtc can't be 51% attacked
it can, if ETH gets 51% attacked.

>>16565994
>it also prevents people from stealing its value via inflation
This has nothing to do with POW, and if you value that, just buy BTC, not an offbrand shitcoin that'll never appreciate in value.

>it allows people to "buy" it without any controls, in exchange for electricity
You're grasping at straws pajeet, this is barely a feature.

The whole point of POW is security. 0xBTC delegates security to ethereum. Its POW is pointless. This is why no money is left in your pathetic shitcoin.

Fucking seriously, 300k total market cap. That's not enough for 1 person to make it. If you think someone will buy this you're genuinely retarded.

>>16566039
>it can, if ETH gets 51% attacked.
that's true!
>This has nothing to do with POW
it does. you can't generate 0xbtc at will, you have to mine it. nobody has any special ability to create it.
>this is barely a feature
maybe to you. people who don't want there to be any barrier to buying a currency will probably appreciate it.

>>16566039
>it can, if ETH gets 51% attacked.
the token itself can't, it's a big fucking PRO not a con

Stupid bagholders

>>16566147
right, this is the kind of criticism people can make of 0xbitcoin that's actually true. the price did go down, you got that one right.

>>16560365
Rl

>>16566158
2nd reason: No one cares about it and no one uses it. Miners mine and dump it. Buy coins which actually have something going for it. Like eth or link.

>>16566174
>No one cares about it and no one uses it.
this argument was probably made thousands of times against bitcoin.
>Miners mine and dump it.
you mean they mine it and sell it. tell me how that's different from bitcoin.

>>16566193
>this argument was probably made thousands of times against bitcoin.
Ahh the Galileo Gambit... it's also been the argument made against bitbean, bitcoin gold, pivx... and just about a thousand other cyrptos, Bitcoin is the exception, not the rule
>you mean they mine it and sell it. tell me how that's different from bitcoin.
Bitcoin has first mover advantage and didn't have to compete with a previous crypto currency, it has wide spread use and name recognition, it's established. The argument might sound tautological, but it's the same for virtually any industry with a powerful incumbent.

>>16566249
>Ahh the Galileo Gambit
i don't think you're using that fallacy right. i'm not saying "0xbitcoin is good because people don't like it".
i'm saying that "nobody cares about it or uses it" is not a weighty argument since in the past it was used against stuff you think is good.
"nobody cares about it or uses it" is not the argument most people would make against bitconnect or whatever. they'd make a more meaningful criticism.
>Bitcoin has first mover advantage
sure, sure. it's the OG. the guy who wrote the 0xbitcoin smart contract is a huge fan of bitcoin too. it's not a fixed sum situation.

>>16566279
You're right, it's a lot closer to the Politican's Fallacy
>I have a cat, dogs have four legs, my cat has four legs, therefore my cat is a dog
Irrepsective, my point was that the same criticisms you say could have been used incorrectly against Bitcoin have been used correctly against literally hundreds of other cryptos that haven't attained a fraction of the market cap of Bitcoin.
In fact, distinctions and differences from bitcoin is what would bode better for it's adoption if you look at it from a 'Dissruptive Innovation' conceptual framework that says you don't fight with incumbants, you fight with "non-consumption". that meme 'Blue Ocean Strategy'.
I can see no reason for 0xbitcoin to appeal to anyone who isn't already in the crypto space, on top of virtually no adoption, on top of it being one of literally thousands of crypto projects.

>>16566174
this. retards will hold still and have -90% their money.

>>16566158
>>16566193
>>16566279
>>16566062
>>16566013
>>16565994
>>16565982
>>16565928
>>16565770
>>16565661
>>16565657
>>16565610
>>16565575
>>16565516
>>16560779
>>16560814
>>16561485
>>16562070
>>16563102
>>16563944
>>16565266
>>16565329
>>16565341
>>16565382
>>16565429
>>16565452
>>16565476
>>16565499

Your posts remind me of this guy.

>>16560351
it's rather sleeping
any badmouthing is unconstructive drivel

>>16566552
what the fuck kind of schizoshit is that?

0xBitcoin moon mission is in progress.

I cannot wait for future threads about 0xbitcoin. Anons complaining that they missed the train. Buy high sell low /biz/. Never change.